Sales of houses across Tasmania surged in the first quarter of 2007, a new report showed. The latest figures from the Real Estate Institute of Tasmania (REIT) showed house sales in Hobart jumped by 17.8%, Launceston climbed by 6.5% and the Northwest centres rose by 3.8%. Unit sales were more variable, increasing in Hobart and the Northwest by 8.8% and 25% respectively, but falling in Launceston by 16.9%. This increase in demand pushed the median price in the Hobart region by around $294,000. Inner Hobart saw the biggest jump of 9.1% to $409,000 in the same period. The fastest growing suburb was Queenstown which grew by 158% to $110,000 compared to the December quarter. Mole Creek is another top performer, with prices rising by 67% to $352,000, while Turners Beach grew 59% to $286,000. The most affordable suburb in Tasmania is Rosebery, where property costs $78,000 on average. Battery Point is the most expensive suburb in Tassie with an average price of $627,500. Rose Bay is not far behind with average prices of $600,000 and Tolmans Hill's average is $572,500. Prices in Rose Bay moved ahead 69% during the quarter to March.

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